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CIBC

CIBC Smart Account - Free for 12 months + $100 Amazon gift card sign up bonus

[OP]
Sr. Member
Jun 5, 2016
599 posts
791 upvotes

[CIBC] CIBC Smart Account - Free for 12 months + $100 Amazon gift card sign up bonus

I have a CIBC credit card but no other accounts and received this email. I've gotten sign up bonuses from CIBC once or twice before.

Open an account and have 1 direct deposit or two pre-authorized debits within the first 3 months to get the $100 gift card. Get your banking fees refunded for every month you have 1 direct deposit or 2 pre-authorized debits occur in that month.






Earn a $100 Amazon.ca Gift Card* plus pay no monthly account fees for up to 12 months.1 That’s up to $275 in value.±

* Earn a $100 gift card code from Amazon and earn up to $175 in value in the form of monthly banking fee rebates in your new CIBC Smart Account by following the steps outlined below. The amount of monthly banking fee rebate you receive will match the amount you would have otherwise paid in any given month (ranging from $4.94 to the capped fee of 14.95) depending on the number of transactions you make.

* Offer open only to Canadian residents who are not holders or joint holders of a CIBC chequing account. To qualify, open a CIBC Smart™ Account and provide a valid email address. Within 3 calendar months, set up and complete at least one (1) eligible recurring direct deposit OR at least two (2) different eligible recurring pre-authorized debits (each, a “Qualifying Action”) within the same calendar month. The monthly account fee will be rebated for the calendar month in which the account is opened and the first three (3) full calendar months immediately following the end of the calendar month in which the account is opened. If at least one (1) Qualifying Action is completed each month for nine (9) full calendar months following the first three (3) calendar months after the account was opened, the monthly account fee will be rebated for each calendar month in which the Qualifying Action occurs. Other service fees continue to apply as set out in the Personal Account Service Fees brochure. Other conditions apply; visit a CIBC Banking Centre or visit cibc.com/smart.

* Earn an Amazon Gift Card code by opening a CIBC Smart account and completing the Qualifying Actions described above, which will also qualify you for a monthly account fee rebate. The Amazon Gift Card code will be sent to you by email within 12-16 weeks following your completion of the Qualifying Actions each month for 3 months following the calendar month during which you opened the account.
13 replies
Deal Addict
Sep 4, 2007
1594 posts
1815 upvotes
Edmonton
Cold deal. $100 GC vs. $300 cold hard cash from BMO. Even accounting for the lost interest on $4000 minimum balance, the BMO deal comes up $100 ahead.
$175 in value in the form of monthly banking fee rebates


"I charge $50 every time I walk into the bank branch, but I'll waive it for the first year, CIBC! Thats like $500 of value I just gave you."
[OP]
Sr. Member
Jun 5, 2016
599 posts
791 upvotes
frozenmelon wrote: Cold deal. $100 GC vs. $300 cold hard cash from BMO. Even accounting for the lost interest on $4000 minimum balance, the BMO deal comes up $100 ahead.
Nothing stops you from signing up for both.
Member
Jun 11, 2014
290 posts
426 upvotes
Edmonton
Just got an email for this and signed up.
Says wait 12-16 weeks after a qualifying action for the AGC.

I have a part-time job, so I'm going to just use that for the direct deposit.
I've got the Simplii 2.8% promo until April 30, so I might try the BMO Premium Plan to get access to the promo rate, plus my BMO WE MC is up for renewal this year.
I'm not a fan of BMO's clawback for cashback though, at least with an AGC, you can spend it and don't have to worry about being charged back.
Jr. Member
Jun 30, 2018
120 posts
79 upvotes
lancedragons wrote: Just got an email for this and signed up.
Says wait 12-16 weeks after a qualifying action for the AGC.

I have a part-time job, so I'm going to just use that for the direct deposit.
I've got the Simplii 2.8% promo until April 30, so I might try the BMO Premium Plan to get access to the promo rate, plus my BMO WE MC is up for renewal this year.
I'm not a fan of BMO's clawback for cashback though, at least with an AGC, you can spend it and don't have to worry about being charged back.
Does the email received upon sign up mention anything about Amazon gift card? The email I received only mentioning 12 months fee rebate. But I signed up today using link saying $100 AGC.
Member
Oct 2, 2015
384 posts
275 upvotes
Outremont, QC
I got this email too. It's important to highlight this term:
fremmy wrote: * Earn an Amazon Gift Card code by opening a CIBC Smart account and completing the Qualifying Actions described above, which will also qualify you for a monthly account fee rebate. The Amazon Gift Card code will be sent to you by email within 12-16 weeks following your completion of the Qualifying Actions each month for 3 months following the calendar month during which you opened the account.
12-16 weeks AFTER you have gone 3 months of Qualifying Actions starting AFTER the calendar month you open the account. That's upwards of 7-8 months waiting for your code if they strictly follow the T&C.

That'd be 2021. America may even have a new president by then. Hassle and a long wait, so it's a pass for me. But thanks for sharing OP.
Member
Feb 5, 2012
426 posts
127 upvotes
Toronto
How's this smart account different thanthe chequing account you get through opening a line of credit.
[OP]
Sr. Member
Jun 5, 2016
599 posts
791 upvotes
coolsam wrote: Does the email received upon sign up mention anything about Amazon gift card? The email I received only mentioning 12 months fee rebate. But I signed up today using link saying $100 AGC.
Image
Member
Jan 18, 2005
210 posts
174 upvotes
That’s up to $275 in value
That's not how this works, CIBC.
Jr. Member
Jun 30, 2018
120 posts
79 upvotes
fremmy wrote: Image
This one is promotional email you received as you have other CIBC product. I am asking about email received after account opening, mentioning ‘Thank you for applying for account’.
Member
Jun 11, 2014
290 posts
426 upvotes
Edmonton
coolsam wrote: This one is promotional email you received as you have other CIBC product. I am asking about email received after account opening, mentioning ‘Thank you for applying for account’.
Doesn't mention it
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Sr. Member
User avatar
Dec 24, 2011
633 posts
1406 upvotes
East, Canada
Make that Amazon gift card $300 CIBC and I’ll bite. This is not competitive.
Amex Platinum, Amex Cobalt, Amex Bonvoy and Amex Bonvoy Business card holder
British Airways American Express (UK)
Newbie
Feb 25, 2020
4 posts
Thanks. Not amazing but pretty good since no minimum. If you are willing to be patient.

In for an account for the year!

EDIT: I jumped in too soon. Now there’s a $300 cash offer for the same thing! :(

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